EnergyWatch

Seadrill buys time with postponement of major debt

John Fredriksen's struggling rig company Seadrill has obtained permission from its banks to postpone debt worth a total USD 2.4 billion by three months. This buys the company time to land a restructuring deal.

Rig company Seadrill, under control of Norwegian business magnate John Fredriksen, has bought itself more time to find a rescue plan.

The ailing company writes in a statement that it has entered a deal with its banks to postpone refinancing of debt worth USD 2.4 billion by three months.

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